Natural Gas: The Bears Have The Price Control-Textbook ExampleNatural Gas: The Bears Have The Price Control
Since the previous analysis of the price, we saw that the price faced a very strong resistance near $3.05 and it moved down very quickly this time.
On a daily time frame, NG looks like it has room to move down even more.
On a lower time frame, the price created a 5-wave movement and 3-wave correction.
it looks like we are in a textbook example and the chances are that NG may move down for the A wave or 3rd Elliot wave.
The maximum I am watching this time is 2.2
You may find more details in the video!
Thank you and Good Luck!
NGSUSD trade ideas
EUR/JPY Long, NZD/USD Short and NATGAS/USD ShortEUR/JPY Long
• If price pushes down to and ideally just below our area of value and it doesn't do so impulsively, then I'll be looking to get long with a risk entry either after a phase line break on either the one hour or the fifteen minute chart, or after a one hour rejection from it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
NZD/USD Short
• If price pushes up to and ideally just above our preferred area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
NATGAS/USD Short
• If price corrects and a larger three touch one hour flag forms, then I'll be looking to get long with a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
$NATGAS PEPPERSTONE:NATGAS is right now at the 61.8 percent retracement from the last move higher.
The price action does not look good.
But what can stop the price from moving down?
-we have the 4H 200MA to at least slow the move down
-dotted blue line that goes back months back
-61.8 percent fib just mentioned
Natural Gas ⛽ August Oracle...Hello Traders 👋
On the Daily Chart here- I've been watching price action from the minute chart to the weekly for quite some time now, I think there will be a retest of this Triangle and it could even break down into it... My prediction for this week is - A bit of volatile sideways action throwing off longs and shorts and then next week we make the move Higher.
What do you think? Would you like me to Chart anything else? Let me know below 👇
NATGAS LONG TERM TRADEBUYING19 minutes ago
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#NatGas UpdateNatGas is nowhere close to expectations. Here it is purely my fault for not looking for alternatives hard enough. In hindsight, the situation was not that difficult to prepare for.
Initial wave (a) of the remaining 2023 uptrend seems complete (unless it is a diagonal). The price is likely to spend next month consolidating before rising in wave (c) of (y) of 5 of (1). Having missed that move in wave (a), it makes little sense to label lower time frames until wave (b) is fully formed or the price renders the analysis wrong.
Talk About Heart Attack Widowmaker....Absolutely slammed into $3.00 - pullback into previous resistance.
I have AMEX:BOIL puts I am selling in the morning. Will look into buying
calls, especially if Natgas breaks below this resistence at where we
are at now. WIll look to buy tomorrow and/or buy/add possibly next week.
I still think that NATGAS is in an uptrand. Looking to break past $3
to the $3.20 to $3.40 resistence levels.
Buy on any weakness. Sept 15th and Dec 15th calls - AMEX:UNG AMEX:BOIL
GLTA
NATGAS LONG TERM TRADE BUYINGHello Traders
In This Chart NATGAS HOURLY Forex Forecast By FOREX PLANET
today NATGAS analysis 👆
🟢This Chart includes_ (NATGAS market update)
🟢What is The Next Opportunity on NATGAS Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Natural Gas: Near A Breaking PointNatural Gas: Near A Breaking Point
After so much time in correction, Natural Gas showed its real nature.
The price yesterday rose by nearly +8.5% and tested a very strong zone at $3.00
The total price increase from the bottom of the daily wave, which lasts almost 7 days, corresponds to a price increase of about +21.80%.
Chances are high that the market can release liquidity again by driving the price lower considering that the price zone near $3 tested by NG dates back to March 2023.
Thanks and good luck!
Natural Gas Supply AreaNatural Gas managed to break through 2.5 and now trading around 3.01 area.
Note that there's massive resistance zone around 3.040 and above.
Higher time frame = bullish + break of structure.
Lower time frame = Ride a short down to a point of interest then look for buys.
> Short = wait for confirmation = change of character + supply
> Long = wait for confirmation at POI = change of character + demand
kind regards
Natural Gas Price Hits 5-month High The hostilities in Ukraine have drastically changed the world's natural gas transportation routes, and yesterday's information about possible interruptions in the supply of liquefied gas from Australia due to the planned strikes of workers led to the fact that the XNG/USD quote jumped above the psychological level of USD 3.0.
Citigroup analysts believe that gas prices in Europe could double by January if strikes in Australia, which is an important supplier of liquefied gas to Europe and Asia, drag on through the autumn.
And the FT writes that yesterday's growth was accelerated due to the fact that traders closed short positions, thereby increasing demand.
The XNG price chart shows that the extremes of summer are forming an ascending channel, and its upper limit has not yet been reached. The ability of the bulls to gain a foothold above the psychological level of USD 3.0 will indicate the strength of demand.
Important lines on the XNG/USD chart:
→ resistance from the upper border of the channel;
→ support from the median line of the channel;
→ support at USD 2.51;
→ support at USD 2.85 – yesterday this level near the June maximum acted as resistance, but was broken.
Market volatility is likely to continue today as news on US natural gas reserves is scheduled to be released at 17:30 GMT+3.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Natural Gas bullish move!Big move down today!
But! i still believe we have a potential huge upside.
We could go a little lower to a support level around 2.5~
but we should go up over the coming week(s).
I expect a target price around 2.7~ and after that, another move upwards towards 3~.
lets see what happens!
Good luck!
Energy markets top of mind – got gas?Energy markets are front of mind – we see crude into new cycle highs and riding the 5-day EMA – clients are progressively increasing short exposures, although we’re not at historically high skews.
Nat Gas (NG) – the wild west of energy markets – has broken the $1.91 to $2.82 range it has held all year, and the Bollinger Band volatility squeeze is firmly on. EU TTF NG prices were a clear driver, with price closing up 28%, and along with US CPI, will be front and centre in the session ahead.
Gasoline has moved to range highs of $3.00 and could get more attention from clients, if and when it closes above the highs.
The fundamentals behind the NG move have been firmly debated and whether the potential worker's strike at the Chevron and Woodside LNG facilities has genuine longevity – the three facilities in question account for c.10% of global LNG supply, so it is significant.
The risk to NG longs resides in a quick de-escalation of talks and we ultimately see no impact on supply. Married with signs of a mild winter in Asia and LNG not far off capacity limits, we could see a sharp decline in price on a resolution. Conversely, if we do see a full escalation and the market feels it could play out over a period of weeks, longs will be sitting pretty.
The trend-following crowd would be triggered on NG, with price closing above the Bollinger band and Donchian Channel (40-day look back). This still needs work, but the fact we’ve seen a breakout has raised the prospect of a test of the 200-day MA and full trending conditions.
Looking at the intraday tape in the US500 we see that as crude prices pushed above the April highs, we saw little selling of equity. We also saw the market's pricing of expected inflation (through ‘breakeven’ rates) also falling. This goes part of the way to answer two important questions – the level where higher energy prices accelerate the view that headline inflation may reverse higher again. And, whether higher oil prices become an outright negative for equities.
It appears that while we are closer to that tipping point, it feels like it may take a break of the psychological $100p/b to change the risk dynamic.
For now, longs in Nat Gas seem the right position, knowing the clear near-term risk/catalyst is headlines on strike action in W.A.
NATURAL GAS BULLISH OUTLOOKNatural gas futures surged to over $3 per mmBtu, a seven-month high, driven by increased demand for indoor heating and cooling. Speculation and reports of pipeline issues causing production slowdowns contributed to the price rise. The September gas contract on the NYMEX Henry Hub reached $2.95 per mmBtu, up 6.2% for the day, briefly hitting $3.018.
Prior to this, gas prices had lingered around the mid-$2 range due to higher production and milder weather. Gelber & Associates, an energy advisory in Houston, warned of maintenance problems in NEXUS and REX pipelines, potentially impacting their daily gas delivery capacities.
The NEXUS pipeline moves 1.5 bcf of gas daily from Ohio to Michigan, while the 1,679-mile REX pipeline runs from the Colorado Rockies to Ohio. Analysts anticipate reduced Northeastern gas flows affecting production.
MACD and RSI are confirming the bullish anticipation, with probable levels of resistance at 3.227, while as a pivot point might be considered 2.757 and from there the price might face support at 2.648
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